Dec 4, 2012 9:00am EST
clinton and state counselors have been engaging for some time, and that is can we get a better answer than we have had in the past two how a new rise in power comes to the international system. and can we do so without running significant risks or indeed fall into conflict. >> thanks. please. >> i agree with everything the undersecretary has said your, and, in fact, admiral sam locklear underscore those pushes a couple days ago in australia. talking about engagement and that strategic trust. but it's interesting that the chinese tend to look at the american, ma asia pacific give it a sort of a continuing strategy. which speaks to the inability to really communicate with strategic effect. and i think you touched, steve, on a very important piece which was a seniority complex and if i can put it that way. china has felt that they were abused by major powers to the 19th century and well into the 20 century, and that has an interesting counterbalance, which is a seemed a bit of a superiority complex about the solutions that they are building on how china images as a global power. the disconten
Dec 4, 2012 12:00pm EST
representative cole if we restore the clinton tax rates today than in ten years, 2022, we have the deficit where it should be. >> guest: he is certainly correct to generate a great deal more revenue. if we did that let's say they made for under $50,000 that is a 2,000-dollar tax increase and again i don't think the president wants to do that. he said he doesn't want to do that our side doesn't want to do that. you know, going back to the clinton tax rate, and remember the average american family has taken a terrific hit. the median household income for years ago when the president became the president was around $54,000 a year and is about 50 now. so this portion of the population which is gotten squeezed tremendously i don't think adding an extra tax at the 98 percent is going to, number one, be very helpful to the more helpful to the economic growth. number two it's how much you want the folks to pay? so again, freezing those tax rates with an overwhelming majority of americans is a smart thing to do, we ought to do it and both sides say they want to. >> host: and you said earlier on -- >> gue
Dec 4, 2012 5:00pm EST
president clinton to cut tax rates. many democrats opposed him then because the tax cuts were unfair, favoring the highest-income americans. to overcome that obstacle, the republicans resorted to a parliamentary technique, budget reconciliation, a maneuver that allowed for passage of their tax cuts but forced them to expire after 2010, at the end of the ten-year budget window. so we scroll forward to 2010. as 2010 ended, president obama and many democrats in congress, including myself, wanted to extend the tax cuts for middle-class families but let rates on income above $200,000 for an individual and $250,000 for a family revert to the clinton era levels. our senate republican friends filibustered that effort, refusing to allow the middle-class tax cut without a tax cut for the highest incomes as well. their hostage strategy worked that time and the president and senate democrats reluctantly agreed to extend the tax cuts for two more years. so now the two years is up and these tax rates are again set to expire. that's why senate democrats passed the middle-class tax cuts act in july.
Dec 3, 2012 5:00pm EST
looks forward to the event. >> this president clinton have any remarks were suggestions to president obama through their golf game on the fiscal cliff? >> for reasons that would be apparent to anybody who's seen me sitting at golf club i was not there and therefore do not know. [inaudible] >> and a president obama enjoyed the session, but beyond that i don't have anything else for you. [inaudible] >> can you give us more detail about who will be here, how many end the dialog does not already part of the conversation? >> the president looks forward to the meeting. i think we will have details on that later this evening. i don't have a list for you. >> in concept, talk about what experience governors have, what is hoping to hear every day. >> governors have a lot at stake in this process. they've been interesting seeing washington get its fiscal house in order. they see action to ensure that the economy continues to grow. governors broadly speaking having an interest in washington making wise investments and rebuilding our infrastructure. they obviously have a stake in our health care